(RTTNews) - PPG Industries, Inc. (PPG) announced Friday that it has agreed to divest certain business activities in Senegal, Ivory Coast, Cameroon, Gabon and Algeria to Océinde, an industrial group based in Réunion, France.
Océinde will continue to offer the existing range of products, including SEIGNEURIE paint, through a licensing and distribution agreement. It also has a range of business activities in Europe, the Indian Ocean and Africa, including architectural coatings distribution and manufacturing.
This partnership will strengthen a longstanding relationship between the companies, which includes the supply of specialty materials from Océinde to PPG.
PPG employees in the countries concerned will join Océinde. In addition, Olivier Bouin, currently PPG general manager, Architectural Coatings Africa French Overseas and Suriname, will join Océinde as General Manager for the Trade Architectural Coatings market in Africa.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
